ALL Republican candidates tax plans increase the national deficit!

[samplegirl]

By James Kwak

The Times has a story out today: Surprise, all the Republican candidates’ tax plans increase the national deficit! The numbers (reduction in 2015 tax revenues, from the Tax Policy Center):

•Romney: $600 billion
•Gingrich: $1.3 trillion
•(Late lamented) Perry: $1.0 trillion
•Santorum: $1.3 trillion
I guess that makes Romney the “fiscally responsible” choice, at least among the Republicans. But President Obama’s tax proposals would only reduce 2015 tax revenues by $222 billion. (That’s $385 billion in Table S-4 less $163 billion in Table S-3.)

Second surprise: The big winners in all of these tax plans are the rich! (That’s not just in dollars, but in percentage increase in after-tax income.)

I don’t mean to be hard on the Times reporters. This is exactly the kind of story they should be writing. Someone has to point out that the same people who are complaining about deficits are proposing to vastly increase those deficits. Especially when their fantastic claims are essentially going unchallenged on the campaign trail.
http://baselinescenario.com/

[sinkingfeeling]

1. And this surprises anyone?

[rfranklin]

2. They also increase taxes on the average taxpayer while giving more breaks to the 1%

That's the bottom line with every right wing tax scheme. That's what they mean when they talk about everyone having to have "skin in the game."

Asked if he were willing to pay more taxes in a Nov. 30 interview with Bloomberg Television, Blackstone Group LP CEO Stephen Schwarzman spoke about lower-income U.S. families who pay no income tax.

“You have to have skin in the game,” said Schwarzman, 64. “I’m not saying how much people should do. But we should all be part of the system.”

http://www.businessweek.com/news/2011-12-28/bankers-join-billionaires-to-debunk-imbecile-attack-on-top-1-.html

[LonePirate]

3. Screaming about deficits only matters when they are believed to hurt Democrats.

The press simply could not care about Republicans and deficits as evidenced by the Bush years.

[samplegirl]

4. While they all scream

media is to liberal! Jesus.........why is someone not addressing this???

[denverbill]

5. Oh, but you forget. Tax cuts INCREASE tax revenue. Except payroll tax cuts of course. n/t